🏦OCC Notice on Bank Secrecy Act Compliance and Reporting Renewal
Agency Information Collection Activities: Information Collection Renewal; Submission for OMB Review; Minimum Security Devices and Procedures, Reports of Suspicious Activities, and Bank Secrecy Act Compliance Program
Summary
The OCC, as part of its continuing effort to reduce paperwork and respondent burden, invites comment on a continuing information collection, as required by the Paperwork Reduction Act of 1995 (PRA). In accordance with the requirements of the PRA, the OCC may not conduct or sponsor, and the respondent is not required to respond to, an information collection unless it displays a currently valid Office of Management and Budget (OMB) control number. The OCC is soliciting comment concerning the renewal of its information collection titled, "Minimum Security Devices and Procedures, Reports of Suspicious Activities, and Bank Secrecy Act Compliance Program." The OCC also is giving notice that it has sent the collection to OMB for review.
Agencies
- Treasury Department
- Comptroller of the Currency
Business Impact
$$$ - High
The document details compliance and regulatory requirements related to security devices, suspicious activity reporting, and Bank Secrecy Act regulations, which are pertinent to business owners in the financial sector. Non-compliance can lead to legal repercussions and financial penalties.